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X-WR-CALNAME;VALUE=TEXT:TSE
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DTSTART:20241027T030000
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UID:calendar.136934.field_date.0@www.tse-fr.eu
DTSTAMP:20260510T165646Z
CREATED:20250228T081001Z
DESCRIPTION:Adelina Barbalau (University of Alberta)\, “The Optimal Design 
 of Green Debt”\, Finance Seminar\, Toulouse: TSE\, March 10\, 2025\, 12:30
 –14:00\, room Auditorium 6.\n\nWe develop a theory of optimal security des
 ign for financing green investments in the presence of greenwashing. Green
  outcomes are uncertain and can be obtained through the implementation of 
 tangible projects and/or intangible effort-based strategies. When manipula
 tion is not possible\, the optimal contract takes the form of an outcome-b
 ased security design\, similar to a sustainability-linked bond (SLB)\, wit
 h a payoff that is contingent on green outcomes. When manipulation is cost
 less\, the optimal contract takes the form of a project-based security des
 ign\, similar to a green bond (GB)\, with a payoff that depends on the imp
 lementation of green projects. When green outcomes can be manipulated at s
 ome cost\, the optimal contract is a hybrid which incorporates both an out
 come-contingency (like an SLBs) and a project-contingency (like a GB). The
  model rationalizes several empirical facts.
DTSTART;TZID=Europe/Paris:20250310T123000
DTEND;TZID=Europe/Paris:20250310T140000
LAST-MODIFIED:20260113T095129Z
LOCATION:Toulouse: TSE\, March 10\, 2025\, 12:30–14:00\, room Auditorium 6
SUMMARY:Finance Seminar
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2025-optimal-design-green-debt
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